Eastern Bank Sells 786 Shares of The Sherwin-Williams Company (NYSE:SHW)

Key Points

• Eastern Bank significantly reduced its holdings in The Sherwin-Williams Company by 71.1%, selling 786 shares and now owning 319 shares valued at $111,000.
• Analyst ratings for Sherwin-Williams show mixed outlooks, with one analyst issuing a sell rating and others ranging from hold to strong buy, leading to a current average rating of "Moderate Buy".
• The company reported earnings of $3.38 EPS for the last quarter, missing estimates, with a revenue of $6.31 billion and a dividend of $0.79 recently announced.

Eastern Bank cut its holdings in The Sherwin-Williams Company (NYSE:SHW - Free Report) by 71.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 319 shares of the specialty chemicals company's stock after selling 786 shares during the period. Eastern Bank's holdings in Sherwin-Williams were worth $111,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SHW. Park Square Financial Group LLC bought a new position in Sherwin-Williams in the 4th quarter worth approximately $27,000. Perkins Coie Trust Co bought a new position in Sherwin-Williams in the 1st quarter worth approximately $27,000. Synergy Investment Management LLC boosted its holdings in Sherwin-Williams by 583.3% in the 1st quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company's stock worth $29,000 after buying an additional 70 shares during the period. Barnes Dennig Private Wealth Management LLC bought a new position in Sherwin-Williams in the 1st quarter worth approximately $30,000. Finally, HWG Holdings LP bought a new position in Sherwin-Williams in the 1st quarter worth approximately $46,000. 77.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SHW shares. Bank of America raised their price objective on shares of Sherwin-Williams from $289.00 to $296.00 and gave the stock an "underperform" rating in a report on Monday, June 23rd. Morgan Stanley cut their price target on shares of Sherwin-Williams from $405.00 to $385.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Citigroup cut their price target on shares of Sherwin-Williams from $385.00 to $375.00 and set a "neutral" rating for the company in a report on Wednesday, July 23rd. BMO Capital Markets cut their price target on shares of Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. Finally, Loop Capital cut their price target on shares of Sherwin-Williams from $395.00 to $380.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $383.33.

Sherwin-Williams Stock Performance

NYSE SHW opened at $330.82 on Friday. The Sherwin-Williams Company has a 52-week low of $308.84 and a 52-week high of $400.42. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.48 and a current ratio of 0.78. The company has a market capitalization of $82.48 billion, a P/E ratio of 32.82, a P/E/G ratio of 3.14 and a beta of 1.18. The company has a fifty day moving average of $346.33 and a 200-day moving average of $348.07.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $3.76 by ($0.38). The business had revenue of $6.31 billion during the quarter, compared to analysts' expectations of $6.31 billion. Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%. Sherwin-Williams's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.70 EPS. As a group, equities research analysts predict that The Sherwin-Williams Company will post 12 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, August 15th. Sherwin-Williams's dividend payout ratio (DPR) is presently 31.35%.

About Sherwin-Williams

The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.

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